Wealthfront Advisers LLC Buys 30,955 Shares of FirstEnergy Corporation $FE

Wealthfront Advisers LLC lifted its position in FirstEnergy Corporation (NYSE:FE) by 18.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,162 shares of the utilities provider’s stock after buying an additional 30,955 shares during the quarter. Wealthfront Advisers LLC’s holdings in FirstEnergy were worth $9,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. American National Bank & Trust raised its holdings in FirstEnergy by 380.2% in the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of FirstEnergy in the third quarter valued at about $27,000. TruNorth Capital Management LLC increased its stake in shares of FirstEnergy by 187.5% in the third quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 405 shares during the period. State of Wyoming acquired a new position in shares of FirstEnergy during the 2nd quarter worth about $25,000. Finally, Caldwell Trust Co acquired a new stake in FirstEnergy in the 2nd quarter valued at approximately $35,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Stock Performance

FirstEnergy stock opened at $47.95 on Thursday. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. The stock has a fifty day moving average price of $45.69 and a two-hundred day moving average price of $45.23. The firm has a market capitalization of $27.70 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.72 and a beta of 0.64.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be given a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Wednesday. Mizuho increased their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company lowered their price target on FirstEnergy from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Jefferies Financial Group raised their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Finally, Barclays lowered their price target on shares of FirstEnergy from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.85.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.